Toledo cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

The above illustration supplies generalized information for the Toledo, OH cost of living index. Compared to other cities in Ohio and cities across the country, the cost of living index in Toledo, OH is 87, which is 4% lower than the Ohio average and 13% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Toledo, OH are 13% higher than the average for Ohio and 12% higher than the rest of the country.

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How would you rate the cost of living in Toledo?Excellent. Goods, services and housing are all very affordable.Good. Most goods and services are affordable.Poor. Everything is more expensive than I'd like.Awful. You'll have to take out a loan to live here.View resultsWrite a review to give others more information about this area.Is the cost of living increasing or decreasing in Toledo?Decreasing rapidly. Costs are dropping at a rapid rate.Decreasing steadily. Costs of goods and services are declining.Increasing steadily. Prices are increasing, but at a reasonable rate.Increasing rapidly. I can barely keep up with the increasing prices.View resultsWrite a review to give others more information about this area.

Compare Toledo, OH Cost of living To Other Cities

Salary Calculator

I currently make 50,000This is how much you would need to earn in Price difference in compared to

Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

Using the salary calculator lets you compare the salary you earn in Toledo, OH to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Toledo, OH, you have to earn a higher income in order to still have the same standard of living. To operate the Toledo, OH salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$50,318

$4,193

$1,174

$1,510

Renters

$21,416

$1,785

$500

$643

If you want to find a good determining factor for the cost of living and the general affordability of housing in Toledo, OH, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Toledo, OH, the median monthly income is $50,318 for those who own their own homes. Under the standard rule, that income level would allow for $1,174 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $21,416, per the median income in the area. That would allow for renters to spend up to $500 on monthly rental expenses.

Ohio Sales Tax

State

General Sales Tax

With Max Surtax

Ohio

5.75%

8%

Ohio Income Tax

State

Income Tax (Low)

Income Tax (High)

Ohio

0.5%

5%

When assessing the complete cost of living in Toledo, OH, the Ohio income tax and the Ohio sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Ohio maximum surtax is 8%, and the Ohio sales tax is 5.75%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0.5% to 5% in Ohio.

Goods & Services

Item

Toledo

National avg.

Difference

Haircut

$16.25

$16.09

1.0%

Beauty Salon

$33.05

$37.33

11.5%

Toothpaste

$2.06

$2.45

15.7%

Shampoo

$0.87

$1.00

12.7%

Movie

$10.06

$10.28

2.1%

Bowling

$5.59

$4.93

13.3%

Groceries

Item

Toledo

National avg.

Difference

Ground Beef

$3.56

$3.80

6.5%

Fried Chicken

$1.45

$1.40

4.0%

Milk

$1.31

$2.01

34.6%

Potatoes

$3.35

$3.01

11.2%

Pizza

$11.70

$9.89

18.3%

Beer

$8.17

$8.90

8.1%

Health Care

Item

Toledo

National avg.

Difference

Optometrist

$85.42

$102.16

16.4%

Doctor

$94.69

$108.36

12.6%

Dentist

$106.56

$92.53

15.2%

Ibuprofen

$9.38

$9.28

1.1%

Lipitor

$437.97

$425.82

2.9%

Housing

Item

Toledo

National avg.

Difference

Home Price

$77,800.00

$184,700.00

57.9%

Avg. Mortgage Payment

$1,115.53

$1,202.44

7.2%

Apartment Rent

$651.00

$949.00

31.4%

Transportation

Item

Toledo

National avg.

Difference

Gasoline

$2.25

$2.24

0.1%

Tire Balancing

$43.37

$46.29

6.3%

Utilities

Item

Toledo

National avg.

Difference

All Electricity

$124.40

$165.96

25.0%

Phone

$31.33

$28.68

9.2%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.